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Systar Launches Payments Pattern Monitoring Solution at Sibos 2008
The new solution - based on Systar's award-winning BusinessBridge platform - provides banks and other financial institutions with proactive end-to-end visibility into payments process execution. Armed with this insight, banks can take action to:
- Stop revenue leakage. Banks can retain greater revenue by identifying opportunities to remove competitor banks from the payments process, in turn eliminating revenue leakage and improving their own revenue generation capabilities.
- Increase high-end market share. Banks can handle more transactions as book transfers, extending cut off times to key clients while providing faster posting of funds to the beneficiaries' accounts.
- Reduce costs while increasing liquidity. Banks can realize reduced costs because book transfers are less expensive than other transactions and have reduced errors and higher STP rates, along with reduced complexity for investigations. Book transfers also have no impact on liquidity at the central bank.
- Identify best prospects for growth. Banks can gain insight from corporate client and correspondent bank business patterns to identify a list of top sales prospects.
"With 10 of the 15 largest banks in the world utilizing Systar's Business Activity Monitoring solutions, we understand the pain points that have a great impact on a bank's revenue and costs," said Philippe Guénault, Executive Vice President, Systar. "Today's announcement reinforces our commitment to delivering unprecedented insight across all of a bank's key processes."
BusinessBridge delivers relevant information and time-critical analysis to decision makers throughout the financial institution. By using Systar's proven technology and dashboards, banks have unprecedented visibility into key bank processes - including payment patterns, competitive wallet share, correspondent reciprocity, and threshold-driven business at risk.
"When a customer's payments are inefficiently - and unnecessarily - routed through a competitor bank, it not only introduces the probability of errors and delays into a bank's payments process, but leads to revenue leakage and higher costs" adds Guénault.
Systar will be exhibiting its BAM portfolio of products and solutions during SIBOS at Stand Number B604.
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